Calculating the variable

Super Products, Inc. uses a standard costing system. For June and July the following costs were budgeted and incurred: Manufacturing costs Variable costs per unit: Direct materials $ 30 Direct labor $ 42 Variable overhead $ Fixed overhead costs: (monthly total) $300,000 Selling & Administrative Costs: Variable costs per unit sold $22 Fixed (monthly total) $175,000 The budgeted denominator level used to determine the fixed overhead allocation rate was 5,000 units for each month. For July, the following information was available: Inventory July 1 1,000 units Units produced in July 4,000 units Units sold in July 3,200 units Selling price per unit $300 Assume there are no price, efficiency, or rate (spending) variances Question #3 -Calculate the value of the ending inventory as of July 31, using variable costing. (1 mark) 7 A BIG x DIL FS F6 Prisco Home End